BDN Options History — April 2021

In April 2021, BDN traded between $12.68 and $13.64. ATM implied volatility averaged 26.8%, placing in the 6.3% IV rank vs the trailing year. The 30-day expected move averaged 8.0%. IV traded above realized volatility by 3.3% (HV 20d: 23.5%). Max pain ranged from $12.50 to $12.50. Net GEX was positive for 7 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 3.01.

Notable Days

2021-04-13: Highest Volume — 854 contracts
2021-04-12: Largest IV spike — 28.9% change
2021-04-12: Highest IV Rank — 13.8%
2021-04-06: Largest Expected Move — 9.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.16	$12.68	$13.64	$13.11	$13.59
Max Pain	$12.50	$12.50	$12.50	$12.50	$12.50
ATM IV	26.8%	20.6%	34.9%	25.3%	20.6%
Expected Move	8.0%	5.9%	9.3%	7.2%	5.9%
HV 20d	23.5%	15.6%	33.5%	33.5%	15.6%
HV 60d	27.0%	24.8%	28.3%	28.3%	24.8%
IV Rank	6.3%	0.5%	13.8%	4.8%	0.5%
IV Percentile	4.7%	0.4%	23.0%	0.4%	0.4%
Term Structure	1.5%	-2.6%	11.0%	11.0%	8.3%
VWIV	29.7%	23.1%	44.6%	30.8%	26.8%
Skew 25d	4.7%	-7.8%	42.0%	6.9%	4.4%
Skew 10d	12.2%	-9.9%	109.2%	5.6%	0.1%
Call IV 25d	26.6%	18.6%	52.9%	23.9%	18.6%
Put IV 25d	31.3%	19.3%	72.8%	30.8%	23.0%
Bid-Ask Spread %	51.39	11.60	96.47	19.08	95.99
Gamma HHI	0.59	0.35	0.84	0.83	0.61
Net GEX	9.8K	-42.0K	138.7K	110.5K	-27.2K
Net DEX	-471.7K	-1.3M	287.4K	-1.2M	-113.8K
Net VEX	-5.7K	-7.1K	-4.8K	-6.1K	-4.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.01	0.00	34.00	3.80	0.36
Total Volume	89.19	6	854	72	80
Total OI	5,056.571	4,167	5,868	5,811	4,380

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2021-04-01	$13.11	$12.50	25.3%	7.2%	33.5%	4.8%	0.0%	6.9%	11.0%	110.5K	-1.2M	-6.1K	3.80	19.08	15	57	2,348	3,463
2021-04-05	$13.05	$12.50	24.7%	8.8%	33.2%	4.3%	30.8%	5.4%	0.4%	138.7K	-1.2M	-5.8K	1.70	93.15	46	78	2,357	3,511
2021-04-06	$12.90	$12.50	28.5%	9.3%	27.2%	7.9%	32.4%	8.1%	-1.1%	63.1K	-676.0K	-6.7K	2.46	14.73	13	32	2,094	3,586
2021-04-07	$12.94	$12.50	24.9%	8.6%	27.0%	4.4%	29.8%	-2.5%	1.6%	52.4K	-802.7K	-6.2K	34.00	66.78	1	34	2,103	3,588
2021-04-08	$12.77	$12.50	23.2%	8.4%	26.1%	2.9%	0.0%	7.8%	2.9%	95.0K	-598.1K	-7.1K	0.56	11.60	9	5	2,103	3,597
2021-04-09	$12.68	$12.50	27.0%	8.1%	26.2%	6.5%	35.8%	5.8%	2.2%	96.1K	-432.7K	-7.1K	0.00	13.23	6	0	2,133	3,595
2021-04-12	$12.93	$12.50	34.9%	8.1%	26.3%	13.8%	28.4%	42.0%	1.6%	74.0K	-752.1K	-6.4K	9.20	73.46	5	46	2,137	3,595
2021-04-13	$13.03	$12.50	25.5%	8.7%	26.6%	5.0%	30.2%	5.4%	0.2%	-18.8K	-1.2M	-5.6K	0.96	31.82	436	418	2,136	3,625
2021-04-14	$12.98	$12.50	30.4%	8.7%	26.3%	9.6%	30.4%	6.6%	-0.2%	-6.3K	-1.2M	-6.1K	0.00	29.48	26	0	2,221	3,623
2021-04-15	$13.06	$12.50	28.9%	8.3%	26.4%	8.3%	28.9%	-4.0%	4.7%	-28.8K	-1.3M	-5.4K	0.83	25.90	63	52	2,235	3,624
2021-04-16	$13.22	$12.50	29.9%	8.6%	26.7%	9.2%	30.0%	7.3%	-1.7%	-42.0K	-1.3M	-5.6K	0.34	13.03	50	17	2,129	3,674
2021-04-19	$13.28	$12.50	25.1%	7.2%	26.4%	4.6%	30.0%	-0.9%	-1.3%	-37.7K	200.4K	-5.1K	0.19	78.95	43	8	839	3,328
2021-04-20	$13.18	$12.50	28.7%	8.2%	21.7%	8.0%	28.6%	-1.8%	-2.3%	-39.5K	260.3K	-5.2K	1.30	93.58	10	13	854	3,322
2021-04-21	$13.30	$12.50	30.1%	8.6%	19.4%	9.4%	30.1%	-7.8%	-1.0%	-38.2K	287.4K	-5.8K	0.17	94.14	59	10	856	3,333
2021-04-22	$13.14	$12.50	24.4%	7.0%	19.8%	4.1%	24.5%	-0.9%	1.1%	-37.3K	222.2K	-5.3K	0.53	96.47	19	10	901	3,343
2021-04-23	$13.24	$12.50	27.1%	7.8%	19.1%	6.6%	26.9%	3.2%	0.2%	-33.1K	164.4K	-5.1K	0.06	51.45	31	2	914	3,334
2021-04-26	$13.47	$12.50	24.0%	6.9%	17.2%	3.6%	23.1%	7.1%	8.2%	-29.5K	-4.7K	-4.9K	0.49	86.23	49	24	930	3,333
2021-04-27	$13.40	$12.50	27.8%	8.0%	16.9%	7.2%	28.6%	3.7%	0.1%	-29.0K	8.3K	-5.0K	1.50	22.25	8	12	973	3,351
2021-04-28	$13.53	$12.50	29.1%	8.4%	17.1%	8.5%	44.6%	6.9%	-0.9%	-27.4K	-56.9K	-5.0K	2.13	48.59	24	51	979	3,351
2021-04-29	$13.64	$12.50	23.6%	6.8%	15.7%	3.3%	23.6%	-3.9%	-2.6%	-29.6K	-150.6K	-4.8K	2.67	19.32	3	8	988	3,402
2021-04-30	$13.59	$12.50	20.6%	5.9%	15.6%	0.5%	26.8%	4.4%	8.3%	-27.2K	-113.8K	-4.9K	0.36	95.99	59	21	986	3,394